Monday, December 3, 2007

November Sales Numbers

VREB has posted November's sales numbers. I was close on my estimates! Except for the average townhome price, the numbers don't surprise me. Bev McIvor's two bits have changed from "it’s important to note that nearly a third of single family homes last month sold for under $425,000" this last summer to "The high demand and robust prices show continued strong consumer confidence in the market" this fall. Also, I got a flyer in the mail today from "Condo Conroy" stating "There are FAR fewer units on the market right now than there was last year..." I call bullsh**.

It appears that stuff is still selling. The number that speaks the most to me is 623 sales. That is 9% more than last November, and more than November 2005. The market does still have legs. I'm beginning to think it will take something big to knock those legs out from under it.

It was a bullish month. The Bulls scored a field goal. Score is Bulls 29, Bears 19.